PYMNTS

SEPTEMBER 3, 2020

Only 26 percent of all consumer payments are made in the U.S. with cash — and consumers are even starting to ditch plastic cards. Many of these smaller firms, he said, did not have individual, digitized payment experiences woven into their overall operating infrastructures before the pandemic hit. The Demographics .

Payments 262

Payments Security Millennials Retail 262

PYMNTS

SEPTEMBER 24, 2019

Digital banks , for one, are teaming up with technology providers to accelerate settlement times for payments collected at the point-of-sale (POS). Legacy banks are similarly at work, with one major FI seeking to beat out FinTech competition by offering same-day access to credit card deposits.

Mobile 246

Mobile Payments Apple Millennials 246

PYMNTS

MAY 28, 2019

Much thought is given to millennials and even Generation Z — consumers who were born during fixed periods of time, and who are having an increasing impact on payments and commerce. But let’s not forget the role of the teenager in digital retail, financial services and transactions. million in fresh capital.

Digital Banking 139

Digital Banking Google Mobile Groups 139

PYMNTS

DECEMBER 6, 2019

It’s the end of the workweek, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have a deep dive into Colorado’s digital driver’s license effort and news on Alphabet’s new CEO, as well as data on millennial Black Friday spending. Top News . operations.

Millennials 101

Millennials Colorado Google Leadership 101

The Financial Brand

SEPTEMBER 14, 2020

It's both a payment and lending challenge — banks must match fintechs' point of sale 'buy now, pay later' service or they'll lose share. The post Gen Z, Millennials and COVID Fueling Rise in Hybrid Credit Card Alternatives appeared first on The Financial Brand.

Millennials 38

Millennials Cards Lending Branding 38

PYMNTS

JULY 15, 2019

Of all the banking institutions releasing Q2 earnings this week, watch for JPMorgan, whose strong performance can be credited to a growing millennial customer base and continued digital innovation. Continued development of JPM Coin has garnered interest from customers around the world, especially millennials.

Innovation 139

Innovation Millennials Conference cryptocurrency 139

PYMNTS

SEPTEMBER 10, 2019

Customers of the WePay platform can now get faster deposits to their JPMorgan Chase bank accounts, CNBC reported on Tuesday (Sept. With other payment processors, when a small business is looking to get paid, it can take 24, 48, sometimes 72 hours over the weekend for that payment to hit,” Bill Clerico, CEO of WePay , told CNBC.

Millennials 194

Millennials cryptocurrency Cards Payments 194

PYMNTS

JUNE 9, 2020

The alternate payment company said the offering is available through its app, which users can download from the Google Play Store or App Store. Affirm said that millennials and Generation Z comprise more than half of Affirm’s user base and are “especially suspicious of the fine print and hidden fees linked with traditional banking services.”

FDIC 151

FDIC Millennials Google Payments 151

PYMNTS

MAY 4, 2017

Cash remains a preferred method of payments, and, as noted in Webster’s own discussions with payments executives, sometimes it is the only way people can pay. As for demographics, Pierce stated that tech use does indeed skew younger, but that millennials do use a hybrid of cash and digital payments.

ATM 192

ATM Millennials United States Study 192

PYMNTS

DECEMBER 3, 2019

In today’s top payments news, Wells Fargo has selected former Santander head executive Scott Powell to be its new chief operating officer. Also, Visa is working with four global finance firms to help FinTechs issue plastic as well as digital payments. And London’s digital unicorn Monzo has appointed TS Anil to head up U.S.

Fintech 132

Fintech Colorado Payments Operations 132

PYMNTS

SEPTEMBER 15, 2020

In today’s top news in digital-first banking, Goldman Sachs has launched a personal finance offering for customers of average means, and Franklin Templeton’s Singapore subsidiary has joined forces with Razer Fintech. plans to roll out instant business-to-business (B2B) payments with Interchecks.

Tools 131

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PYMNTS

MARCH 2, 2018

Several major banks and FIs — including Bank of America, Discover and Wells Fargo, among others — offer cash back rewards on their credit card products to entice customers and encourage brand loyalty. They made up 71 percent of payment cards issued worldwide in 2016, up from 70 percent a year earlier.

Millennials 101

Millennials San Diego Cards Retail 101

PYMNTS

JULY 7, 2020

Using credit cards (aka spending the bank’s money instead of your own) seemed so cool — until it suddenly wasn’t nearly as cool anymore. Those who have lost jobs or faced employment insecurity may be less certain that they can pay off debts and thus prefer to spend only the money they have in their bank accounts.

Cards 135

Cards Millennials Conference America 135

PYMNTS

JANUARY 8, 2019

By 2016, Chime was in the market with the full suite of features that digital banks offer today. As a pure-play digital bank, Chime offers as its primary product an entirely mobile/digital banking application that gives customers access to a network-branded debit card and a savings account.

Digital Banking 160

Digital Banking Tools Cards Millennials 160

PYMNTS

JULY 1, 2020

Despite the surge in mobile payments and online banking , no one is predicting the disappearance of traditional banks and their brick-and-mortar branches. . trillion in credit and debit card purchasing volume that could potentially be in play, which could hurt the financial institutions (FIs) serving these consumers today. .

Survey 183

Survey Cards Millennials ATM 183

PYMNTS

AUGUST 13, 2020

consumers don’t exactly love the paper check — roughly 38 percent report that they’ve stopped using them entirely, and that shoots up to almost 50 percent when talking about millennials. Historically, that’s been challenging for businesses, because it requires the payor to manage multiple payment methods,” she said.

Cards 202

Cards Strategy Digital Strategies Examples 202

PYMNTS

JULY 23, 2019

A banking service targeting Britain’s 5.6 Nationwide is gearing up for the introduction of its business accounts, while Mastercard is planning to roll out debit cards to customers early next year, the companies announced in a joint press release. . Banking disruption is moving through the U.K. Atom, a banking startup in the U.K.

Millennials 144

Millennials Innovation Fintech Lending 144

PYMNTS

SEPTEMBER 15, 2020

That number climbs to 38 percent among baby boomers, 74 percent for Generation Xers and 85 percent for millennials and Generation Z consumers. Kikkeri said this is the highest penetration that mobile banking has ever seen among consumers. But an opportunity is only as good as the bank’s ability to pursue it.

Fintech 224

Fintech Idaho Apple Google 224

CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. While many Boomers and senior citizens may not be aware of the wide variety of fintech services available to them, such as digital banking, a number of tools exist that aim to raise awareness. . get the REPORT on next generation investors.

Millennials 73

Millennials Fintech Tools Fraud 73

PYMNTS

JUNE 27, 2019

In the latest Digital Banking Tracker™ , PYMNTS examines how banks are innovating to address these security vulnerabilities. Around the Digital Banking World. Banks and payment players are adopting new technologies to keep customer data safe. In the U.K., In the U.K., by the end of 2019.

Customer Experience 109

Customer Experience Digital Banking Innovation Security 109

PYMNTS

DECEMBER 11, 2018

As detailed in the recent PYMNTS Remote Payments Playbook , consumers are turning away from physical stores when it comes to product discovery. And that’s unlikely to change in 2019 or beyond, given the growing purchasing power of bridge millennials. percent — are willing to switch payments service providers if offered a better deal.

blockchain 170

blockchain Retail Trends Mobile 170

PYMNTS

JUNE 7, 2017

Among mobile banking users, 41 percent used the service to pay bills in the past 30 days. In addition, consumers using person-to-person (P2P) payments via a financial organization in the past 30 days increased by more than one-third from 2015 to 2016, growing from 14 percent to 19 percent.

Survey 115

Survey Mobile Millennials Cards 115

PYMNTS

JUNE 22, 2017

New digital banking solutions are creating new options for these citizens to make a difference in the world through their consumer purchases. With every purchase you make through your Aspiration debit card, your score changes,” Cherny said. The Right Tool for Millennial Shoppers?

Millennials 117

Millennials Digital Banking Survey Tools 117

Bank Innovation

AUGUST 5, 2016

Banks only care about millennials, right? Not really, though marketing about digital efforts may make it appear that way.

Capital 150

Capital Online Millennials Tools 150

PYMNTS

JUNE 21, 2017

June’s PYMNTS Digital Banking Tracker™ looks at the latest trends in the digital banking space, including efforts by banks and FinTechs to give consumers new insights into their finances and the latest developments on the path toward Open Banking. About The Tracker.

Report 131

Report Digital Banking Millennials Fraud 131

PYMNTS

DECEMBER 28, 2018

It may come as no surprise to readers that, when asked about what influences the use of one payment method over another, credit union (CU) customers said it comes down to convenience and security. Mobile payments, he noted, are a good example. Cards aren’t only perceived as safe, he explained, but as reliable, too.

Fraud 131

Fraud Mobile Security Cards 131

PYMNTS

OCTOBER 8, 2019

The Millennial Challenge. Among the greatest opportunities for CUs lie some significant challenges, too — namely, tapping into and serving the financial needs of millennials. Pairing those strengths with robust credit card offerings, he said, helps CUs market a full suite of financial offerings that are comparable to marquee FIs. “As

United States 102

United States Millennials Course Lending 102

PYMNTS

MAY 1, 2020

A digital-loving millennial, John, searches our website to find the type of account he wants and chooses to open it online,” Vas Nunes said. “As This helps the CU better understand the real experience members have, whether they are making transactions or seeking to access products or resolve payments issues, she said.

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Arizona Security Cards Phoenix 159

CB Insights

AUGUST 2, 2018

One of the biggest trends in fintech today is the rise of digital banking products like mobile checking accounts and new debit cards. From Square to Paypal, a host of fintechs are creating products that let consumers spend money directly out of digital accounts using a physical card. mobile-first bank accounts.

Cards 71

Cards Fintech UX Strategy 71

PYMNTS

APRIL 18, 2017

From selfie authentication to finance tools that respond to emojis to computer-generated avatars that look and act like real people, new technological tools are giving digital banking a makeover. The April PYMNTS Digital Banking Tracker™ looks at the various ways technology is changing the digital banking landscape.

Report 110

Report Digital Banking Tools Technology 110

Banking 2020

DECEMBER 4, 2015

Articles via PYMNTS.com, Banking Exchange, Business Insider, American Banker. MetaBank Bumps Up V-Card Strategy: MetaBank and StoneEagle struck a five-year extension of their partnership, which sees StoneEagle linking MetaBank’s Meta Payment Systems corporate clients into virtual B2B payment technologies.

Mobile 40

Mobile Payments Digital Banking Millennials 40

CB Insights

DECEMBER 10, 2020

Bank of America, for one, saw profits drop 16% year-over-year (YoY) in Q3’20 to $4.9B. The pandemic has also accelerated recent trends in banking, especially among the millennial demographic, which tends to favor digital banking and online brands over traditional banks. Consumer payments.

America 101

America Lending Cards San Francisco 101

PYMNTS

SEPTEMBER 6, 2016

In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Or watch its digital disruption. Payments Security As A Digital Business Enabler.

Security 100

Security CA Payments Big Data 100

BankBazaar

JUNE 3, 2020

A neo-bank has a complete online presence and unlike other banks, doesn’t have any physical branches. Its services include accounts, credits and payments. Considered to be a more nimble version of old-fashioned banking, neo-banks appeal to a more digital-savvy generation like millennials.

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Regulation Cards Millennials Maine 127

Gonzobanker

APRIL 4, 2024

consumers, Cornerstone estimates that Chime has more than 38 million customers—more than the number of checking account and/or payments customers of SoFi, Dave, MoneyLion and Current combined—more than three times greater than in Cornerstone’ 2021 estimate. How does Chime’s 38 million customer count compare to the established banks?

Comparison 92

Comparison Fintech America Survey 92

PYMNTS

MARCH 2, 2020

Second, they back up those plans with dollars — 87 percent of top performers allocate more funding for payments innovation than any other area, and 73 percent allocated at least half their budget to innovation. percent of FIs report having systems that are core payment systems and IT systems are enabled to facilitate innovation.

Innovation 222

Innovation Data System Mobile 222

PYMNTS

MARCH 24, 2020

Mobile banking apps are designed to make digital banking more convenient for customers, yet 21.7 This is true even for routine transactions, such as transferring money to friends and relatives or making retail payments. percent of consumers who use these apps are dissatisfied with them. percent, 25.5 percent and 28.9

UX 150

UX User Experience Survey Meeting 150